By Rebekah Morris for Arizona Builder’s Exchange
Major owners and developers of sports and entertainment facilities, including Attesa Motor Sports, ASU Athletic Facilities District and Phoenix Rising will highlight their upcoming projects at the AZBEX Phoenix Metro Development Summit on Tuesday, April 18th.
From attracting Major League Soccer to the full range of collegiate ASU programs and even luxury motor sports, development projects in the sports & entertainment market sector are showing major promise in the Valley and beyond. Some development deals will take decades to come to full fruition, indicating a multitude of opportunity for firms in the space. Common themes include a focus on the user experience and an emphasis on sustainability and excellence in design standards.
The panel will share details about how they came to bring the projects to the Valley, the status of their plans, and opportunities for future work. Below are summaries of each.
Attesa Motor Sports
Danrick Builders will bring a 2,510-acre recreational site to life in Pinal County by way of the Attesa Motor Sports Complex. Two 2.8-mile road courses will be complemented by a 0.7 mile karting track, 129-acre driver experience center and 23-acre event area. Additional features include a hotel and convention center, private air strip and entertainment plaza.
The total economic impact is expected to be more than $1.2B through construction, $1.8B/year once operational. Total construction costs are estimated at $1.1B. Over 13,331 full and part-time employees including race track, manufacturing and commercial jobs could be created with this development.
Approved by Pinal County in December 2016, the project looks to break ground in Fall 2017.
Danrick Builders’ President Patrick Johnson has a deep background in the industry, helping grow the Phoenix International Raceway into the destination it has become.
ASU Athletic Facilities Continue to Build
John Creer, Assistant Vice President for Real Estate Development at ASU is on the panel to discuss the many and varied projects related to developing world-class facilities for the ASU Tempe Campus. Announced in 2014, the Athletic Facilities District bodes well for decades of future development, all with the goal of benefiting ASU Athletics.
Related to the Facilities District are both the recently announced ASU Olympic Village and a new Hockey Stadium for the Sun Devils’ program. The Olympic Village is slated to be developed near Rural Road & Rio Salado Parkway, within the District. Funding is related to Campaign 2020, a philanthropic effort of the University aimed at raising $1.5B, with more than $1B already raised since 2010. Athletics facilities development is just one beneficiary of the fundraising efforts. Other beneficiaries include scholarships and research programs.
The District’s first development is anticipated to begin sitework in the second half of 2017, with vertical development to follow in the first half of 2018. The 19-acre parcel at the NWC of Rural Road & University will be developed by Catellus, and although no firm development plans have been announced, it’s expected to be a 150KSF office building on the hard corner, along with a boutique hotel and 500-unit multifamily project and a small amount of ground-level retail.
Major League Soccer Aims to Come to Phoenix
Dirt has been furiously flying; stadium bleachers have been installed, and seemingly overnight a temporary stadium has sprung up just north of Loop 202 and McClintock Dr. in Tempe in anticipation of the first soccer game on March 25. The 5,000-seat temporary facility is the precursor to a major sports facility to be developed on the same site in 2020-2021.
Mark Detmer, co-owner of Phoenix Rising FC will discuss how Major League Soccer is poised to enter the market, why it has every chance to be wildly successful, and how the permanent facility development process will eventually play out.
Register Now to Hear These and Other Speakers
To listen to these and other major owners and developers firsthand, you’ll want to attend the AZBEX Phoenix Metro Development Summit on Tuesday, April 18th, at the JW Marriott Camelback Inn. Attendees will have the opportunity to network with more than 400 likeminded industry professionals.
NOTE: Paid subscribers receive additional project details in our twice-weekly PDF publication, including project stakeholder information and valuable project bidding leads. Find out more about AZBEX subscriptions or contact Rebekah Morris at email@example.com or (480) 709-4190